Tag archives: banking

Employment Law and Financial Institutions

In the financial sector, in addition to individual employment contracts, working conditions can be subject to various industry related statutes and regulations, collective bargaining agreements and works agreements. Laws and regulations As a reaction to the global financial crisis, the participants of the 2008 G20 summit in Washington, including Germany, agreed on the establishment and … Continue reading

Executive Loses Incentive Comp Upon Resignation – Contract Enforceable, Court Finds No Restraint on Trade

By Michael Torrance on October 12, 2014 Posted in Canada

The Ontario Superior Court of Justice upheld a contract that forced an employee to forfeit restricted shares upon resignation in Levinsky v The Toronto-Dominion Bank. The Plaintiff, a Vice President and Managing Director at the bank, participated in the bank’s Long Term Compensation Plan. The Plan granted the Plaintiff Restricted Share Units each year. Under the Plan, … Continue reading